The euro is stable. Inflation data in the euro area

The single currency remains stable against the US dollar amid mixed data on inflation in the euro area.

• The base consumer price index fell in January by -1.6%, against the December growth of 0.5%. On an annualized basis, the growth rate remains at 1.0%.
• The consumer price index in January fell by -0.9%, against the growth in the previous period at the level of 0.4%. On an annualized basis, the growth rate remains at 1.3%.

Technical analysis: The EUR/USD is still in a state of correction and still maintains an upward trend in the medium term. The main support levels are in the area of ​​1.2260, 1.2230. The resistance levels are 1.2370, 1.2410.

Fig. EUR/USD. The current price is $ 1.2307.

Alexander Sivtsov